“On a comp-adjusted basis, our third quarter guidance represents acceleration from the second quarter, and we expect this trend to continue into the fourth quarter, as we're ramping a number of recent product launches in the back half of the year.”

In context

“And to the extent that we don't find high growth, high return, tuck in M&A we would expect to return additional capital to our shareholders by retiring shares. Now turning to our guidance. Given our second quarter outperformance and continued strength in our underlying fundamentals, we're raising our full-year guidance today on both the top and the bottom line. We expect fiscal ‘24 organic revenue growth of 4.75%, an increase from the prior 4.5%. For the third quarter, we're expecting organic revenue growth to be in the range of 4% to 4.5%. And while the impact of currency is fluid, based on recent rates, foreign currency would have an unfavorable impact on full-year revenue of $100 million to $200 million, including an unfavorable impact of $0 million to $50 million in the third quarter. On a comp-adjusted basis, our third quarter guidance represents acceleration from the second quarter, and we expect this trend to continue into the fourth quarter, as we're ramping a number of recent product launches in the back half of the year. In diabetes, we're projecting the U.S. to return to growth in the second-half of the year on the continued adoption of 780G and the associated CGM and consumable sales. In Medical Surgical, we have the continued rollout of the Hugo surgical robot and GI Genius. In Neuroscience, there's our AiBLE ecosystem in spine, our inceptive closed loop pain stem device in Europe, and we're awaiting FDA approval for both Inceptiv and our Percept RCDBS device. In Cardiovascular, we're ramping our TAVR and PFA launches in Europe, starting the rollout of EV-ICD in the U.S. and Europe, and we are now starting our Ardian sales in the U.S. This all gives us confidence in the continued durability of our top-line growth. Moving down the P&L, our margins this year continue to reflect the impact of currency and”